Enel to Sell 50% of Enel Green Power Australia to Inpex
13 July 2023 - 3:46PM
Dow Jones News
By Giulia Petroni
Enel has signed an agreement to sell a 50% stake in Enel Green
Power Australia to Japanese oil company Inpex Corporation, in line
with its strategic plan.
The European utility said Thursday that the deal is expected to
have a positive impact of around 87 million euros ($96.8 million)
on its adjusted earnings before interest, taxes, depreciation and
amortization, as well as a positive effect on the group's net debt
of around EUR145 million in 2023.
Enel Green Power Australia is valued at around EUR400 million,
it said.
Upon closing, Enel Green Power and Inpex will jointly control
the Australian business and continue to develop its renewable
project pipeline.
The stake sale is subject to authorities clearance, Enel
said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 13, 2023 01:31 ET (05:31 GMT)
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